News
ManyPets completes flurry of executive hires as CEO Eleazu departs
ManyPets has a new line-up for its UK executive team, as CEO Oke Eleazu announces he is to leave the business, Insurance Post can reveal.
Verisk on testing generative AI platforms
Chris Sawford, Verisk's managing director of claims for the UK, discusses what makes an artificial intelligence trial successful and how the technology helps insurers achieve operational efficiency.
Kennedys IQ on using AI for ‘highly complex’ claims
Karim Derrick, chief products officer at Kennedys IQ, shares how the company is using artificial intelligence for complex claims documents.
IFB reveals how AI has sped up detection of fraudulent claims
One year on from launching its AI counter-fraud solution, the Insurance Fraud Bureau has revealed how the tool has “elevated” the sector's fight against fraud.
Standalone R&Q legacy business to target profitability by 2025
A “refocused” R&Q legacy insurance business will expect to deliver operating profitability by the end of 2025 if the proposed sale of the company’s programme management arm Accredited goes ahead.
Insurers told to ditch Big Bang-style transformation
Insurers gathered at the Guidewire Connections conference have been told to stop talking about “modernisation,” to ditch Big Bang-style transformation programmes and pursue bite-sized technology updates.
Ten arrested in commercial fraud crackdown
Ten individuals across the country have been arrested following a two-week police operation to tackle commercial insurance fraud.
Environmental threats slip down agenda as top UK risks are revealed
Economic and societal concerns have overtaken environmental risks as global business leaders share their biggest concerns in the World Economic Forum’s executive survey.
Planned Lloyd’s investment venture scrapped at eleventh hour
Financials Acquisition Corp, which had planned to provide hundreds of millions of pounds of capacity to Lloyd’s syndicates as early as 2024, following a proposed merger, is now set to appoint liquidators.
Principal on how AI is spotting vulnerable customers
Principal Insurance has revealed how it has deployed Xdroid’s artificial intelligence powered solution to report on all speech, email and chat interactions to improve customer outcomes.
How AI is transforming Aurora’s underwriting
Bijal Patel, co-founder of Aurora, explains how the MGA is leading the way in taking a data science approach to underwriting and what skills insurers need to develop.
Classic motor market approaching ‘pinch point’ as a result of premium stagnation
Richard Morley, broking director at Markerstudy Broking, said the classic car market is “behind the curve” when it comes to pricing compared with standard motor.
How AI is helping Mind Foundry spot the signs of cognitive decline
Selim Cavanagh, director of insurance at Mind Foundry, explains how the company is using the latest machine learning techniques to “drive real value” for insurance organisations.
Guidewire CEO warns insurers against too big a bet on AI
Mike Rosenbaum, CEO of Guidewire, has warned insurers against “taking too big a bet” on one generative artificial intelligence path at this stage, as it “is still very early”.
Ageas reveals it is developing an AI claims assistant
Tom Quirke, chief actuary at Ageas UK, shares how the personal lines insurer is already ensuring humans and AI work in synergy to allow agents to focus on meaningful relationships with customers.
Protesters target Chubb and AIG demanding they ‘rule out’ fossil fuel support
Climate activists took to the city to warn insurers that underwriting fossil fuel projects in Africa is a “risky business” that threatens the rainforest, human rights and their reputations.
Sedgwick appoints Neil Gibson as UK CEO
Sedgwick has promoted chief operating officer Neil Gibson to the position of UK CEO.
Policy Expert bought by Abu Dhabi Investment Authority
The Abu Dhabi Investment Authority has bought a majority stake in insurtech Policy Expert from Primary Group.
Arch takes Aon team; Gallagher expands operations; Vision Track’s CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FSCS expects East West compensation costs to rise
The Financial Services Compensation Scheme has said it expects payments to customers of failed structural defects insurer East West to rise in the next financial year.
Wakam taps former RSA personal lines director to lead UK operations
Wakam, the European B2B2C insurer, has made a range of new hires, including the appointment of Mark Christer as UK branch manager.
AI and automation must come to the civil courts, says former Lord Chancellor
The Rt Hon Robert Buckland KC MP, pictured, said “failing to act” on AI in the court system will “fundamentally be the wrong choice with dire consequences”.
PL insurers continue to face rising material and labour costs
Both home and motor insurers are continuing to feel the effects of the rising costs of labour and materials, according to reports from Verisk and the Association of British Insurers.
Lloyd’s earmarks £52m following slavery ties research
Lloyd’s has launched a programme of initiatives to help Black and ethnically diverse people join and build careers in the market following independent research into its historic links to the transatlantic slave trade.